SBI Q4FY24 results, net profit up by 21.59 percent
![SBI Q4FY24 results, net profit up by 21.59 percent](https://www.psuconnect.in/sdsdsd/sbi_q4.jpg)
The largest public sector bank SBI has released its financial fourth quarter results which show Net Profit for FY24 stands at Rs 61,077 crores witnessing a growth of 21.59% YoY after accounting for wage settlement and one-time exceptional item of Rs 7,100 crores.
Meanwhile, Net Profit for Q4FY24 grew by 23.98% to Rs 20,698 crores.
Operating Profit for FY24 grew by 12.05% YoY to Rs 93,797 crores, while Operating Profit for Q4FY24 grew by 16.76% YoY to Rs 28,748 crores.
Bank’s ROA and ROE for FY24 stand at 1.04% and 20.32% respectively. ROA at 1.36% for Q4FY24 improved by 13 bps YoY.
Net Interest Income (NII) for FY24 increased by 10.38% YoY. Whole Bank NIM for FY24 is marginally down by 9 bps YoY to 3.28%.
Balance Sheet
Credit growth is at 15.24% YoY with Domestic Advances growing by 16.26% YoY.
Retail Personal Advances and Corporate loans registered YoY growth of 14.68% and 16.17% respectively.
Whole Bank Deposits grew at 11.13% YoY, out of which CASA Deposit grew by 4.25% YoY. CASA ratio stands at 41.11% as on 31st March 24.
The Gross NPA ratio is at 2.24% improved by 54 bps YoY and Net NPA ratio is at 0.57% improved by 10 bps YoY.
PCR (Incl. AUCA) stands at 91.89% with Provision Coverage Ratio (PCR) being at 75.02%.
The bank's Capital Adequacy Ratio (CAR) as at the end of FY24 stands at 14.28%.
Read Also : India assumes the Chair of Asian Disaster Preparedness CentreNews Must Read
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh